Food group IAWS has moved to strengthen its balance sheet following its acquisition of Otis Spunkmeyer in the US.
It has raised $450m by placing some of its debt with UK and US institutions in the form of guaranteed senior notes. The notes will mature in June 2014, 2017 and 2019.
Finance director Patrick McEniff said the move, along with €265m raised from the spin-off of Origin Enterprises, had 'considerably strengthened' its balance sheet.
